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Maths Quest Maths A Year 12 for Queensland   Chapter 3 Consumer credit and investment WorkSHEET 3.2           1

WorkSHEET 3.2 Consumer credit and investments
Name __________________________
/50
1     How much does an investment of \$500 amount           PRT                                                4
I
to if invested for 3 years at 6% per annum given      100
simple interest is paid?                         I  ?,    P  \$500,             R  6% p.a.,
T  3 years
500  6  3
I
100
I  \$90
Amount = 500 + 90
= \$590

rate of 8% per annum’. For how long should            I
100
\$750 be invested to earn \$240 interest?               I    \$240,     P  750,        R  8% p.a.,
T     ?
I  100
T    
P  R
240  100
T   
750  8
T    4 years

3     Margaret decides to buy \$20 000 worth of                    PRT                                         4
I
debentures in a cosmetic company. The terms                  100
of the investment are 8.5% per annum simple          I     ?,    P  \$20 000,        R  8.5% p.a.,
interest paid to her half yearly. How much will      T     2 years
Margaret earn if the period of the debenture is             20 000  8.5  2
2 years?                                              I   
100
I    \$3400
Maths Quest Maths A Year 12 for Queensland   Chapter 3 Consumer credit and investment WorkSHEET 3.2         2

4     Julianna received \$2.65 in interest on her           Interest Rate (R)                                5
savings account for the month of August. If               PRT
I
Julianna had \$530 for the whole of August,                 100
calculate the simple interest rate offered by the     I  2.65,       P  \$530,         R  ?,
bank per annum.                                            1
T       year
12
I  100
R
P T
2.65  100
R
530  121

R  6% per year

5     At the start of May, Jack has \$499 in his                PRT                                          4
passbook savings account. On his birthday, the        I
100
6th of May, his parents give him \$50 which he         I ?            P  \$499  \$50  \$225  \$324,
deposits into his account. He buys a new bike                            1
for \$225 on the 20th of May. If the bank pays        R  4% p.a., T  years
2
4% p.a. simple interest paid monthly on the
324  4  12
1
minimum monthly balance, calculate the               I
interest that Jack receives for May.                         100
I  \$1.08

6     The Jones family sell their home for \$195 000. (a)         Commission                                 6
The commission on the sale is 5% of the first              = 5% of \$18 000 + 2.5% of
\$18 000 plus 2.5% of the remainder of the sale                               (\$195 000 – \$18 000)
price. A 10% GST charge is then applied to the             = 5% of \$18 000 + 2.5% of \$177 000
agent’s commission.                                        = \$900 + \$4425
Calculate:                                                 = \$5325
(a) the agent’s commission
(b) the GST charged                            (b)         GST = 10 % of \$5325
(c) the money the Jones family will receive                    = \$532.50
from the sale.
= \$195 000 – \$5325 – \$532.50
= \$189 142.50

7     The Stamp Duty due on the Jones’ house                          Sale price  \$195 000                 5
transfer of ownership is payable at the rate of      No. of lots of \$100  \$195 000  \$100
\$1 per \$100 or part of \$100, based on the
 1950
purchase price. This money is paid by the
purchaser.                                                   Stamp Duty  \$1 1950
What will the purchaser pay for the Jones’                                 \$1950
house?                                                     Total payable  \$195 000  \$1950
 \$196 950
Maths Quest Maths A Year 12 for Queensland   Chapter 3 Consumer credit and investment WorkSHEET 3.2        3

8     Fran bought 500 shares at \$3.75 each.            (a)       Cost of shares = \$3.75  500              6
Brokerage on these shares is payable at the rate                          = \$1875
of 2.5% of their value, or a minimum charge of
\$60.                                             (b)       Brokerage = 2.5% of \$1875
Calculate:                                                             = \$46.88
(a) the cost of the shares                                 This is less than the minimum charge
(b) the cost of brokerage                                  of \$60.
(c) what the purchase of the shares will cost              So brokerage payable is \$60.
Fran.
(c)       Cost to Fran = \$1875 + \$60
= \$1935

9     Fran’s shares paid a yearly dividend of 2.5          (a)   Total dividend = 2.5  500                6
cents per share.                                                          = \$12.50
Calculate:
(a) the total dividend received                      (b)   Dividend yield
(b) the dividend yield                                         dividend per share
                        100%
(c) the Price-Earnings Ratio.                                market price per share
2.5c
       100%
\$3.75
2.5c
       100%
375c
 0.67%

market price per share
(c)   P  E Ratio 
yearly dividend per share
\$3.75

2.5c
375c

2.5c
 150

10    A company has an after-tax profit of \$8 million. Dividend = \$8 000 000  85 000 000                  5
If the company decides to distribute all of this          = \$0.094
profit to its shareholders who collectively own
85 million shares, what dividend per share will So, the dividend per share is 9 cents.